Warner Music Group Sees Revenue, Income Increases For Fiscal Fourth Quarter 2021

FY 2021 Q4

Fiscal fourth quarter revenue grew 22% year-over-year at WARNER MUSIC GROUP CORP. to $1.376 billion, with recorded music (22% increase to $1.172 million), music publishing (up 21% to $205 million), and digital revenue (a 19% rise to $926 million) seeing similar gains. Net income rose from $1 million to $30 million (5 cents per basic and diluted share) and Adjusted Net Income increased from $20 million to $69 million, and Free Cash Flow (up 39% to $193 million) and Adjusted EBITDA (up 34% to $237 million) also saw substantial gains. The company noted IRON MAIDEN, DUA LIPA, ED SHEERAN, MASKED WOLF, and AVA MAX releases as "major sellers."

“Music is essential to billions of people across the globe. But now, more than ever, great talent needs help to cut through the noise. By delivering for new artists and songwriters, returning superstars, and global legends, we’ve also delivered outstanding results in 2021,” said CEO STEVE COOPER. “Looking to 2022, we’re excited to release incredible new music from the world’s hottest artists and most influential songwriters. We’re also planning innovative moves and collaborations that will strengthen our leadership position across a vast universe of opportunities, in both the digital and physical worlds.”

“Our strong fourth-quarter results put an exclamation point on an outstanding year,” said Acting CFO LOU DICKLER. “Even as certain revenue was impacted by COVID, the strength and resilience of our music propelled us to double-digit revenue growth and margin expansion in 2021. As the possibilities for music continue to evolve, we remain focused on delivering shareholder value through our financially disciplined investment strategy and positioning ourselves for the next wave of growth.”

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